Nationwide Debt Direct: Recent Hollywood Films Highlight the Commonality of Financial Struggles in the Wake of Economic Colla

With more than $150 trillion in personal wealth concentrated in the United States, Americans obviously live in a nation of unmatched prosperity. Even when measured on a per capita basis, the United States ranks among the richest countries in the world and continues to be recognized as a global economic superpower. Despite the vast amount wealth that exists in this country, a surprising number of Americans continue to endure serious financial struggles, a large percentage of which can be traced back to the economic collapse that occurred almost a decade ago.

Now with the benefit of almost 10 years of hindsight, it seems that the Hollywood film industry is increasingly turning its attention to telling the story of all the heroes and villains at the center of the economic collapse of 2008. The fact that Hollywood appears so willing to highlight the crisis and its aftermath might prove especially beneficial for the countless Americans whose finances were almost irreparably damaged as a result.

To underscore the sizable impact of the issue, Nationwide Debt Direct pointed to a recent article published in The Atlantic, called “The Secret Shame of Middle-Class Americans.” In the article, the author refers to a survey conducted by the Federal Reserve back in 2013, focusing on one question in particular in which respondents were asked how they would pay for an emergency requiring a $400 outlay. The response to this question is especially telling, as the fact that 47 percent would have to either borrow $400 or sell something to pay for the emergency expense highlights the fact that financial struggles are more common than most Americans would guess.

The fact that the 47 percent figure is so surprising is indicative of a serious issue among Americans. It is clearly problematic that even though almost half of all Americans are currently enduring serious financial struggles, the American public is largely unaware of the full extent of the problem because so few are willing to talk openly about it. Perhaps it is out of a sense of personal pride or because of adherence to some antiquated notion that it is unbecoming to discuss matters of personal finance, but the possibility of stimulating this sort of discussion is part of the reason why the Hollywood film industry has such an important role to play in helping Americans overcome the financial burdens they are currently facing.

As more and more films continue to shine a light on the economic collapse and showcase the full extent of its impact, one can only hope that discussions will begin to become more commonplace. Rather than feeling embarrassed or ashamed for having outstanding debt obligations, Americans will realize that these kinds of struggles, while unfortunate, are also quite commonplace and can be traced to a single event beyond their control. The films being produced by Hollywood could very well prove to be the impetus those 47 percent need to seek out some much-needed assistance to finally address the financial burdens they needlessly endured in silence.

Source: https://www.theatlantic.com/ma...